AR Monthly Procedures Checklist for PrismCore Details

Owned by Mary Volkmer (Unlicensed)
Last updated: Jan 03, 2020
2 min read
  1. Generate Invoices for Accounts set up as Invoice in Receivables according to the store’s policy. Access Generate Invoices, Jump 4113 (Receivables > Invoicing > Generate Invoices) to generate invoices through the end of the m
  2. All payments and adjustments as of the month end date must be entered and allocated.
  3. Calculate Finance Charges, if applicable, to include finance charges in statem Access Calculate Finance Charges, Jump 4151 (Receivables > Month End > Calculate Finance Charges).
  4. Print the following reports for Reconciling within the AR module for each account type (Charge/Prepaid). Select Options (Criteria) not specified should be left blank.
    1. Aging Report for the end of the current AR fiscal period. Access Aging Reports, Jump 4131 (Receivables > Aging Reports > Aging Reports).  Locate or create a description you wish to work with.  For the Aging date, select the end of the current AR fiscal period.
    2. Invoice Register report for the current AR fiscal period. Access Invoicing, Jump 4112 (Receivables > Invoicing > Invoice Inquiry).  Click Reports and select Invoice Register.
    3. Payments report for the current AR fiscal period. Access Payments, Jump 4122 (Receivables > Adjustments > Payments).  Click Reports and select Payments.
    4. Received On Account report for the current AR fiscal period. Access Payments, Jump 4122 (Receivables > Adjustments >Payments).  Click Reports and select Received On Account.
    5. Adjustments report for the current AR fiscal period. Access Adjustments, Jump 4123 (Receivables > Adjustments > Adjustments). Click Reports and select Adjustm
  5. Reconcile AR within the m Insert the above report totals into the following formula, separately, for each account type (Charge/Prepaid).
  6. Print Month End Statements from Print Statements, Jump 4152 (Receivables > Month End > Print Statements). Check the Print Customer Statements and Print Account Statements boxes.
  7. Purge Applied Payments according to the store’s purge schedule. See Purge Applied Payments in the Detail Reference Section.
  8. Perform Month End Processing, Jump 4155 (Receivables > Month End > Month End
  9. Processing). This will close the current m Payments and adjustments entered in AR will be posted to the next month.  You may open AR General Parameters, Jump 211 (PrismCore Admin> Accounting > Receivables > AR General Parameters) to view the current AR fiscal period.

 

Note:  Unless otherwise noted, paths assume PrismCore > Accounting tab.